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20130112
20130112
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Search Results 0 to 8 of about 9 (some duplicates have been removed)
MSNBC
Jan 11, 2013 8:00pm PST
platinum if republicans hold america hostage with the debt ceiling. the president can legally call on the treasury department to mint a trillion dollar platinum coin to pay off the country's debts. the coin must be platinum. it can be any size and it can be assigned a trillion dollar denomination. this is kind of a crazy option, but then again republicans holding america hostage over the debt ceiling is even crazier. some economists think the platinum coin could send the economy into a tailspin, but others think it's a great idea. pulitzer prize winning economist paul krugman said president obama should absolutely mint the coin if republicans try to force america into default. krugman also said that john boehner's face should bonn the coin because without him, the coin wouldn't be needed. meanwhile, republicans have been lying to americans on the debt ceiling for weeks, and now the fox news misinformation machine in high gear, hitting the platinum coin issue. neil cavuto put up this misleading graphic during his show on thursday. it claimed the coin would weigh 17,000 tons, about the weight of 89 blue whales and be the size of a nuclear submarine? we
MSNBC
Jan 12, 2013 1:00pm PST
president the authority to increase the debt ceiling unilaterally, and another option that is floated is to essentially mint a platinum coin worth a trillion dollars. this is a idea that dates back to a 1997 appropriations bill that deals with the issue. the white house saying they do not believe that this gives nem the authority to mint a trillion dollars coin. they feel they need to go through congress to get the debt increased. there's question how it will take effect. president obama said he is not going negotiate with congress. so it raises the question, if he is not going negotiate congress, how are they going to get it done? congress is digging in and house republicans saying they are not going to aagree to an increase in the debt limit unless it's equalled by dollar for dollar spending cuts and depositions saying they are not signing off on that, they believe it will take a huge bite out of sbeel s entitlements and that is all coming as the noungsment of a appointment of a new head of treasury, secretary of the treasury, former chief of staff, jack lew, some say he is a big spend democrat, they feel they cannot work with
MSNBC
Jan 12, 2013 5:00am PST
carney fielded a question about the proposal from our own chuck todd. >> follow up on debt ceiling. i know your position hasn't changed. do you have a position on this trillion dollar coin business? >> i would simply go back to what i said. the option here is for congress to do its job and pay its bills. bills that have already been racked up. >> will you totally rule it out? >> you can speculate about a lot of things. but nothing needs to come to these kinds of, you know, speculative notions about how to deal with a problem that is easily resolved by congress doing its job. >> okay. sure. but if congress doesn't do its job, here's how the coin would work. republicans are once again threatening to hold the debt ceiling hostage as they did in the summer of 2011. they will not raise the amount they can borrow. we're already slated for european levels of austerity this year. if no deal is reached, the u.s. has to start stiffing its creditors, deciding how to prioritize payments which will cause markets to freak and interest rates to spike. enter the coin. it turns out there is a subsection of the u.s. code called dominations specifications and design of coins that includes the foll
CBS
Jan 12, 2013 7:00am PST
administration says that the only solution for the problem is for congress to raise that debt ceiling. >>> some bloggers are online and they believe they have the answer to the nation's debt ceiling crisis that the treasury should simply mean a $1 trillion platinum coin. keep it in reserve, then use the money to pay bills. others say it is not realistic as far as being approached to the solution. you may have seen her and her sister marianne around becoming local staples after moving to the bay area from michigan more than four decades ago. they are unmistakable. that's after they fell ill in july. vivian brown would have turned 86 later this month. >>> and brushing your pet's teeth may seem like a difficult task. up next why it is important, much more important than what you think. >>> a surprise for the fast food drivers. no driver to be found. we'll be right back. >>> we've got a forecast that will bring a chill to your heart and to have everything else quite frankly with a freeze warning that will be posted to the bay area. it will be cold this morning and cold tonight. but the daytime, before you get a beautiful saturday. we'll have the forecast for you after we pay some important bills. winner. sharon chin >>> 7:38. the phantom of the opera and peter
MSNBC
Jan 12, 2013 7:00am PST
way to have it. on one hand i'm having the angst for the president to extend the debt ceiling and go ahead and have the coin minted, but on the other hand worrying that it is an overreach, but on the other hand, he may not be able to choose his own secretary of defense. what do we think about the hagel decision, and is that presemtively taking on the politics, because he know he won't have the drama or go in to have the hagel fight? >> well, i don't believe he wants any of the fights. i am among those who are surprised that he went with hagel because they could see controversy there. and secretary gates, the democrats like to have a republican defense secretaries, and they feel like it is good optics to have a republican in national security post, and secretary gates was well liked by the republicans even though he was to the left of the center of the bush era on national security establishment. >> which is not very far left. >> still very much center right at least, and hagel did break with the republican colleagues and i think that the white house had no know that there was sort of resentment, and bad blood ther
CNBC
Jan 11, 2013 7:00pm EST
which will never conceivably work. but that's his way of getting around the debt ceiling. what do you think of that? >> i think the whole thing is the race to the bottom of ridiculous new plans. to be fair, the trillion dollar coin has taken it. nothing is going to be sillier than that. >> platinum. platinum. but have you ever seen those nature shows where the birds hop around around fluff up their feathers to intimidate a rival or aattract a mate? i hope and believe that is what the president and congress are doing right now. trying to be bigger and bigger and more threatening. in the end they're going to make a deal. they always make a deal. >> keith boynkin, this is argentina type stuff. this is banana republic type stuff. democrats don't want to cut spending. they're trying to come up with phony arguments. only boehner wants the one for one. this law professor has got this i.o.u. it did work for a spell in california. but he says that the congress has the constitutional authority to raise the debt. what is going on here? and -- >> do you think it's a good idea, larry, for the united states government not to pay its debt? do you think bond holders want that? >> no one's saying that. >> what's banana republic like
FOX News
Jan 12, 2013 1:00pm PST
saying that it will not produce platinum coins to avoid the debt increase. the idea has gained momentum mostly among democrats with republicans threatening another debt ceiling showdown on spending cuts. u.s. expected to reach the debt limit next month. some economists, you start printing money like that you will devalue the existing currency and in the long run create enormous inflation. that apparently option being ruled out by the department of treasury. >> jamie: consumer financial protection bureau is unveiling new mortgage rules and no one is happy about them. banking industry and consumer groups feel they are getting shortchanged. biggest critics people now to be cautious and careful about their investment decisions. joining us with more kyle harrington, good to see you. i was surprised about reading this. everybody remembers the mortgage mess. apparently under these new rules it sounds like it will be easier for people to get mortgages. that sounds like a good thing. is it? >> it's better i'm interested in people being able to attain mortgages. i'm also interested in pa
Search Results 0 to 8 of about 9 (some duplicates have been removed)